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    BP Awards $7.5 M to Stanford for Research

    Five-year contract will support research on modern energy markets.

    STANFORD, Calif. -- The BP Foundation awarded a five-year, $7.5 million grant to Stanford University for its Program on Energy and Sustainable Development. The foundation, funded by BP, also gave an initial grant of $1.8 million over three years in 2004.

    "BP's support has allowed our program to study the world's most pressing energy problems, such as global warming, energy poverty and the prospects for the world oil market," program director and Stanford law professor David Victor said in a written statement. "In addition to BP Foundation support, we learn from BP's experience as an energy company because they operate in all the markets where we do research -- such as in China and India."

    The Program on Energy and Sustainable Development is part of the Freeman Spogli Institute for International Studies, and concentrates on the legal, political and institutional dimensions of how societies derive value from energy. The grant is part of an expansion of Stanford’s research and teaching on energy issues, which focuses on the technical aspects of energy systems.

    "BP Foundation believes the work undertaken at Stanford deals directly with global issues that are key to meeting the world's growing energy needs," said Steve Elbert, chairman of the BP Foundation. "The drive to research and implement strategies to further understand today's energy markets is important work, and we are proud to partner again with Stanford."

    The gift from the BP Foundation, as well as all other gifts that support the program’s research, includes special provisions to ensure the research program’s independence in setting research agendas.

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